Germany proposes steel quota system - Finance Minister: High tariffs endanger industry and jobs
German Finance Minister Lars Klingbeil will seek the inclusion of a quota system for steel exports in the EU's trade deal with the United States in a meeting with his American counterpart, Scott Bessent.
"A quota system for steel is being discussed and it would be good if we had such a pact," Klingbeil said before the meeting in Washington.
Many chapters have yet to be finalized in the trade deal reached, Klingbeil said, and steel is a particularly important issue for the German economy and jobs.
"I will test what steps the US government wants to take and how we can find a solution," Klingbeil said, even though the European Union is responsible for the negotiations.
The EU's trade deal with Trump in July was met with a mix of relief and anger, with tariffs set at 15% on most products. However, negotiations continue on certain sectors, including steel and aluminum, which will be hit with 50% tariffs.
German Chancellor Friedrich Merz has stated that the EU will negotiate with the United States on steel, with a focus on quotas that can be exported without high tariffs.
Minister Klingbeil also called for swift clarification of other details in the trade pact, including the EU's promised investments in the energy sector.
"This should happen within the next few days to have a clearer picture," he stressed.
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